Peter Schiff answers a listener’s question about the possibility of another downgrade of US debt. Government debt isn’t the only investment to avoid – stay away from any dollar-denominated asset, and buy something with real value!
Ask Peter your own questions by calling into the Peter Schiff Show from 10 AM to 12 PM EST, Monday through Friday, at 855-4-SCHIFF.
“US government debt is, in effect, junk. And I think if you buy it, you will lose. You will either lose because the government defaults, or you will lose because you get repaid in money of diminished value. Either way, I don’t think that you want to buy the bonds. It doesn’t matter what S&P or Moody’s says.”
Government Debt is Junk (Video)
Peter Schiff answers a listener’s question about the possibility of another downgrade of US debt. Government debt isn’t the only investment to avoid – stay away from any dollar-denominated asset, and buy something with real value!
Ask Peter your own questions by calling into the Peter Schiff Show from 10 AM to 12 PM EST, Monday through Friday, at 855-4-SCHIFF.